Egypt's Telda Secures $20M from Jack Dorsey's Block and Others, Bank of Namibia Considers Creating its CBDC, Nigeria's Stears Raises $3.3M and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? Airtel Kenya splits its telco and mobile money businesses
? Egypt's Telda raises $20M USD with participation from Dorsey's Block
? Central Bank of Namibia in talks to create CBDC
? Stears raises $3.3M USD backed by Mac VC & Serena Ventures
AND MORE!
Making the news
Airtel Kenya separates its mobile money business from its telecom business
"Airtel Kenya has separated its mobile money from call, data and SMS business to allow the Central Bank of Kenya (CBK) regulate the funds transfer platform. In an announcement made by the CBK on Tuesday, October 11, the funds transfer platform will now be known as Airtel Money Kenya Limited, while the calls and data subsidiary will be called Airtel Networks Kenya Limited. The process of delinking Airtel’s mobile money from the telecommunications operations began in 2019, the CBK said."?Learn more.?
Ecobank selects 6 fintechs as finalists for the 2022 Ecobank Fintech Challenge?
"The six fintechs stood out from a highly competitive pool of over 700 applicants from 59 countries in and outside Africa. The six finalists will compete for the top price of $50,000 at the Grand Finale, which is being held at the Ecobank Pan African Centre in Lomé, Togo, on Friday 28 October 2022...." The finalists include Cauri Money (Senegal), DizzitUp (Togo), MaishaPay (DRC), Moni Africa (Nigeria), Paycode (South Africa), and Touch and Pay (Nigeria).?Learn more.?
Central Bank of Namibia in talks to create central bank digital currency (CBDC)?
"Bank of Namibia?governor?Johannes Gawaxab?has stated that the central bank’s strategic direction and the rapid digitisation of the financial system have prompted it to think critically about a potential Namibia Dollar CBDC in the digital payment landscape of the future."?Learn more.?
Startup & Funding Activity
?Egypt?- Consumer money app,?Telda, raises $20M USD seed funding with involvement from Global Founders Capital and Block (prev. Square)?
?Egypt?- Revenue-based financing platform,?FlapKap, raises $3.6M USD seed round to expand its capacity to work with eCommerce businesses across MENA
?Kenya?- Omnichannel furniture marketplace,?MoKo, raises $6.5M USD Series B funding round as the startup looks to enter 3 new markets by 2025
?Nigeria?- Data & intelligence startup,?Stears, raises $3.3M USD seed funding with backing from Mac VC and Serena Ventures?
Investor Activity
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Featured Articles
Banks take the fight to the disruptors - Abraham Augustine in TechCabal
"The big banks are not the only guys piling into the fintech space in Africa’s largest country. Smaller banks like Sterling Bank and Wema bank are also joining the fray. "?Continue reading.?
Spotlight: AFTSCapeTown
AFTSCapeTown is November 2-4, 2022
This November's summit will be the largest AFTS yet with partners including Visa, Flutterwave, TeamApt, Ecobank, Fintech Association of South Africa, Wesgro, and many more! Don't miss out on early-bird prices -?REGISTER?now and save 25% with the code AFTSCapeTown2022!?
AFTS partners in the news
AFTS AlphaExpo alumnus, Waya, launches digital bank and transfer app for African immigrants in the United States
"The app allows free money transfers to other users and purchasing through bank cards linked to the app.?The company states that users of the app can open bank accounts 'within minutes' and send money to mobile wallets in more than 10 countries in Africa."?Learn more.?
Pictured above: David Wachira (Waya Co-Founder), Zekarias Amsalu, Sarah Chepkoech, and Hempstone Maroria (Waya Co-Founder).?
Africa Fintech Summit chooses FiveWest as its crypto payments partner
"For the first time ever,?the Africa Fintech Summit will be accepting cryptos as a form of payment for tickets and sponsorship, and the organisers have settled on?FiveWest’s Crypto Payment Gateway?to achieve this objective."?Learn more.?